AUD/USD opens +0.5% as weaker USD, strong equities and firm metals underpin nL1N2XM0WZnL4N2XM1H4nL1N2XM0BS

Sellers around 0.7200 capping for now, but momentum suggests higher

AUD/USD trending higher with the 5,10 & 21-day MAs in a bullish alignment

Resistance is at the 100-day MA at 0.7231 and 50% of 2022 move at 0.7245

Support is at the 10-day MA at 0.7101 and break would ease upward pressure

China PMI today and a weak reading could dent AUD sentiment

Month-end flows could result in whippy, uncorrelated price action

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